When you misplace a credit card, the first thing you usually do is cancel it in case it falls into the wrong hands. But it's a hassle to wait for a new card and update your information. Discover cardholders can now get around this by temporarily freezing their cards instead of canceling them altogether.

As of this week, Discover users have access to a new feature, "Freeze It." Basically, it gives you the option of turning your card "on" or "off." This way, you don't have to cancel your card and get a new one if you know there's a good chance you'll find it. At the same time, it helps you avoid any fraudulent purchases. You keep your account number, but you can't use it until you unfreeze the card.

Advertisement

The freeze applies to purchases, cash advances, and balance transfers. And to make things even easier, certain purchases will go through even though your card is frozen. Recurring bill payments, returns, and rewards are still processed when the card is frozen.

You can activate the feature via their website or mobile app. Bankrate reports that it's not yet available for business customers, but that's set to change soon.